Edgestream Partners L.P. Reduces Stock Position in General Dynamics Co. (NYSE:GD)

Edgestream Partners L.P. trimmed its position in General Dynamics Co. (NYSE:GD) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,460 shares of the aerospace company’s stock after selling 202 shares during the period. Edgestream Partners L.P.’s holdings in General Dynamics were worth $714,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in General Dynamics in the first quarter valued at $25,000. Richardson Financial Services Inc. acquired a new position in shares of General Dynamics during the 4th quarter valued at about $25,000. American Capital Advisory LLC purchased a new position in shares of General Dynamics during the 2nd quarter worth about $29,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of General Dynamics in the first quarter worth approximately $29,000. Finally, New Covenant Trust Company N.A. purchased a new stake in General Dynamics in the first quarter valued at approximately $29,000. 86.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at General Dynamics

In other news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at approximately $1,106,515.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GD shares. Barclays lifted their target price on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 target price on shares of General Dynamics in a report on Thursday, July 25th. Robert W. Baird reaffirmed an “outperform” rating and set a $345.00 price target on shares of General Dynamics in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of General Dynamics in a research report on Monday, July 29th. Finally, BTIG Research initiated coverage on shares of General Dynamics in a report on Wednesday, June 26th. They set a “buy” rating and a $345.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $315.06.

General Dynamics Stock Up 0.7 %

Shares of NYSE:GD opened at $306.87 on Friday. General Dynamics Co. has a 12-month low of $214.53 and a 12-month high of $309.97. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm has a market cap of $84.19 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.64 and a beta of 0.61. The company has a fifty day simple moving average of $294.79 and a 200 day simple moving average of $291.09.

General Dynamics (NYSE:GD) last issued its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $3.26 EPS for the quarter, missing the consensus estimate of $3.30 by ($0.04). The company had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.70 EPS. On average, equities research analysts anticipate that General Dynamics Co. will post 14.52 EPS for the current fiscal year.

General Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be issued a $1.42 dividend. The ex-dividend date is Friday, October 11th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.85%. General Dynamics’s dividend payout ratio (DPR) is 46.33%.

About General Dynamics

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.